HOUSE PRICES: Coast and islands up in March

The latest figures show house prices rising in coastal areas, whilst remaining subdued at a national level.

The average national price of property rose just 0.8% in March, according to the latest index from Tinsa – Spain’s leading appraisal company.

Resale asking price figures from Spanish property portals Idealista.com and Fotocasa.es show prices unchanged in the case of Fotocasa, and down 2.8% in the case of Idealista (based on asking prices for listings in their databases). All the latest figures are highlighted in the chart above in yellow.

So the overall picture for Spain is one of a market that has stabilised, but still lacks momentum for a sustained increase at a national level. Given the economic environment and continuing oversupply of homes in many areas, this story could continue for some time.

Figures from the appraisal company Tinsa show that, whilst the average national price rose just 0.8% year-on-year in March, house prices on the Mediterranean coast rose 4.3%, and by the same amount in the Balearics and the Canaries, all areas where foreigners tend to buy.

Peak-to-present, Spanish house prices are still down 41%, and by 46.5% on the Mediterranean coast, where prices fell the most in the crisis. In contrast, prices have held their ground the best on the Spanish islands.

About Mark Stücklin

Mark Stücklin is a Barcelona-based Spanish property market analyst, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on ms@spanishpropertyinsight.com. All articles published in good faith as a general guide but no substitute for professional advice. Please read the SPI disclaimer

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